-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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This is just an underhanded way to defund the police. Cause a hostile work environment, officers retire, quit or lateral out to different departments and there are no new bodies accepting positions because who would do so. Employment numbers drop, less budget, less expense which equals more money for the politicians to throw at some pet projects their relative is involved in. Crime rises, democraps keep getting elected, the citizens dont care, let them get what they ask for. Too bad, so sad.
Chicago’s anti-police climate is turning a slow stream of police resignations into a jail-break.